Acquisitions (Tables)

9 Months Ended

Sep. 30, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Business Acquisitions Purchase Price Consideration

The aggregate purchase consideration for the AWM Acquisition consists of the following:

Cash consideration on the AWM Closing Date	166,907
AWM Earnout Consideration	17,293
Total	$	184,200

The aggregate purchase consideration for the APA Acquisition consists of the following:

Cash consideration on the APA Closing Date	$	166,135
APA Earnout Consideration	19,256
Total	$	185,391

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the preliminary estimates of fair values of the assets acquired and liabilities assumed as of the AWM Closing Date:

	Preliminary Fair Value at Acquisition Date
Cash and cash equivalents	$	6,039
Accounts receivable	16,109
Inventories	2,687
Prepaid expenses and other	965
Property, plant and equipment	1,244
Other intangible assets	72,000
Other assets	201
Total assets acquired	$	99,245
Accounts payable	3,029
Deferred revenue	2,563
Other liabilities	457
Other long-term liabilities	78
Total liabilities assumed	$	6,127
Preliminary fair value of identifiable net assets acquired	93,118
Preliminary allocation to goodwill	$	91,082

The following table summarizes the fair values of the assets acquired and liabilities assumed, including measurement period adjustments as of September 30, 2026 (in thousands):

	Preliminary Fair Value at Acquisition Date		Measurement Period Adjustments		Adjusted Fair Value
Cash and cash equivalents	$	1,219	$	—	$	1,219
Accounts receivable	29,124		—		29,124
Inventories	25,136		—		25,136
Prepaid expenses and other	466		—		466
Property, plant and equipment	14,256		—		14,256
Other intangible assets	88,000		—		88,000
Other assets	27,244		1,837		29,081
Total assets acquired	$	185,445	$	1,837	$	187,282
Accounts payable	12,540		—		12,540
Deferred revenue	22,329		—		22,329
Other liabilities	4,138		7,347		11,485
Other long-term liabilities	26,493		—		26,493
Total liabilities assumed	$	65,500	$	7,347	$	72,847
Fair value of net assets acquired	119,945		(5,510)		114,435
Allocation to goodwill	65,446		5,510		70,956
Purchase consideration	$	185,391	$	—	$	185,391

Schedule of Purchase Price Allocation

The preliminary purchase price allocation includes $72.0 million of acquired identifiable intangible assets as follows:

	Estimated Fair Value (in USD)		Estimated Weighted Average Useful Life in Years
(in thousands, except useful lives)
Developed technology	$	18,000	5
Customer relationships	37,000		5
Backlog	8,000		1
Trade name	9,000		10
Total	$	72,000

The purchase price allocation includes $88.0 million of acquired identifiable intangible assets as follows:

	Estimated Fair Value (in USD)		Estimated Weighted Average Useful Life in Years
(in thousands, except useful lives)
Developed technology	$	22,000	5
Computer software and other	13,000		5
Customer relationships	39,500		5-9
Backlog	3,500		1
Trade name	10,000		10
Total	$	88,000

Schedule of Business Acquisition, Pro Forma Information

The unaudited pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the APA Acquisition and is not necessarily indicative of the operating results that would have actually occurred had the APA Acquisition been consummated on January 1, 2024. These results are prepared in accordance with U.S. GAAP (in thousands).

	Three Months Ended September 30, 2025		Nine Months Ended September 30, 2025
Revenue	$	30,793	$	97,814
Net loss	(4,486)		(6,197)
Pro forma adjustments (1)	$	(6,620)	$	(19,860)

(1) Pro forma adjustments represent re-casting of incremental expenses, net of estimated taxes, resulting from the APA Acquisition, including APA Deferred Consideration expense, intangible asset amortization, and the impacts of lease re-measurements and increases to the fair value of inventories and property, plant and equipment.